I. Crypto Market Overview

Key Takeaways

1.

Macro Environment

The Federal Reserve's third consecutive rate cut to 3.50%-3.75% has steepened the yield curve and boosted risk appetite for CRYPTO. UK inflation fell sharply to 3.2%, raising expectations for a Bank of England rate cut and supporting CRYPTO liquidity. The FDIC's approval of USD-backed stablecoins for US banks under the GENIUS Act is set to accelerate institutional adoption and regulatory clarity.
2.

Crypto Market

The crypto market is mixed over the past 12 hours, with Bitcoin down 0.1% at $86,388 and Ethereum up 0.1% at $2,924, reflecting subdued risk sentiment. Altcoins show divergent trends; PIPPIN (PIPPIN) surged 23.6%, Canton (CC) gained 38.2%, and Midnight (NIGHT) jumped 23.3%, driven by ecosystem incentives and speculative trading. DeFi and AI-related tokens led gains, while most meme coins lagged.
3.

Today's Outlook

US November CPI and Core CPI data will be released today, likely driving volatility across crypto markets. Major central banks—the Bank of England, ECB, and Bank of Japan—will announce monetary policy decisions, potentially impacting global risk sentiment and digital asset flows.
Fear and Greed Index
98.00% Annual Percentile
25 Fear
Total Crypto Market Cap
$2.91T
2.02%
Total Market Trading Volume
$114.72B
10.01%
Altcoin Season Index
0.00%
Quarterly Percentile
18 / 100
Total Futures Market Open Interest
3.47B
11.56%
Futures
777.89B
1.34%
Perpetuals

II. Industry Updates

Macro-economic Policies

1.

The Federal Reserve implemented its third consecutive interest rate cut, lowering the federal funds rate to 3.50%-3.75%, which has led to a steeper yield curve and increased risk appetite for risk assets like Bitcoin and DEFI tokens.

2.

UK CPI inflation fell sharply to 3.2% in November, below expectations, increasing the likelihood of a Bank of England rate cut. This has weakened the pound and could boost crypto market liquidity as investors seek higher-yielding assets.

3.

The Bank of Japan is expected to raise its policy rate to 0.75% on Friday, the highest since 1995. A rate hike could strengthen the yen, potentially triggering capital outflows from US assets and impacting Bitcoin and global crypto flows.

4.

US November jobs data showed only 64,000 new jobs and a 4.6% unemployment rate, signaling a cooling labor market. This supports further monetary easing, which is generally bullish for crypto prices and DeFi lending activity.

5.

The European Central Bank is set to hold rates steady as Eurozone inflation stabilizes, maintaining accommodative conditions that support risk-on sentiment and sustained capital inflows into digital assets and NFT markets.

Cryptocurrency Regulatory Trends

1.

The FDIC has approved a rule under the GENIUS Act allowing U.S. banks to issue USD-backed stablecoins, requiring full cash or Treasury reserves. This move is expected to accelerate institutional adoption and strengthen regulatory oversight of digital assets.

2.

The SEC has issued new guidance clarifying how broker-dealers can legally custody crypto asset securities, emphasizing the need for direct blockchain access and robust risk controls. This provides greater legal certainty for crypto custodians and may boost investor confidence.

3.

SEC Commissioner Hester Peirce has launched a public consultation on crypto asset trading regulations, seeking feedback on market structure, disclosure, and risk controls for exchanges and ATSs. The initiative aims to shape future policies and support innovation while protecting investors.

4.

The Federal Reserve has withdrawn its 2023 guidance that restricted uninsured banks from engaging in crypto activities, potentially opening new opportunities for these institutions to participate in the digital asset sector.

5.

A recent FCA study shows UK crypto ownership has declined to 8% in 2025, prompting the regulator to propose clearer frameworks for trading platforms and custody services, with comprehensive regulations expected by 2027 to enhance market integrity and counter illicit finance.

Trending Tokens

1.

PIPPIN (PIPPIN): PIPPIN surged 23.6% in 24h, reaching $0.398 with $69M volume. The rally is driven by strong AI narrative, Solana ecosystem integration, and high-profile founder activity.

2.

Canton (CC): Canton (CC) gained 38.2% in 24h, trading at $0.0771 with $20M volume. The spike is linked to new DeFi pool incentives on PancakeSwap, producing 200,000 CC daily and boosting liquidity.

3.

Midnight (NIGHT): Midnight (NIGHT) jumped 23.3% in 24h, price at $0.0633 and $1.1B volume. The move is likely fueled by speculative trading and social media hype, though no major event was confirmed.

Smart Money Movements

1.

Bitcoin whales accumulated over $23 billion in the past 30 days, withdrawing 403,000 BTC from exchanges and receiving 269,822 BTC, marking the largest monthly accumulation in 13 years.

2.

CIMG Inc. acquired 230 Bitcoin for $24.61 million, increasing its total holdings to 730 BTC, citing the current market cooling as a strategic entry point for long-term reserve allocation.

3.

Moon Pursuit Capital launched a $100 million market-neutral crypto fund, employing algorithmic trading to capture arbitrage opportunities and optimize returns across volatile market cycles.

4.

A whale transferred 636 BTC worth $54.8 million from Coinbase Institutional to an unknown wallet, reflecting ongoing large-scale repositioning by institutional investors.

5.

BitMine added 48,049 ETH valued at $140 million to its treasury, bringing total holdings to nearly 4 million ETH, representing over 3.2% of the circulating supply and signaling continued institutional accumulation.

Events to Watch

Dec 18 (Thu)

US November CPI and Core CPI data will be released, impacting crypto market volatility; Bank of England, ECB, and Bank of Japan to announce monetary policy decisions.

Dec 18 (Thu)

USDai protocol upgrade will set mint cap at $680M at 3:00 PM UTC, potentially affecting stablecoin supply dynamics.

Dec 19 (Fri)

US November CPI and PCE data will be released, providing key inflation and consumer spending signals for global markets.

Dec 19 (Fri)

$16.11M in MERL tokens will be unlocked, possibly increasing sell pressure and affecting MERL's market value.

Dec 17 (Wed)

Space will launch its $SPACE token public sale on Solana at 6:00 PM UTC, targeting a $2.5M raise with FDV between $50M and $99M.

III. Phemex Market Focus

New Listings

1.

Dec 17: (NIGHT/USDT)

NIGHT, RAVE and US are now officially listed on Phemex Futures!

Phemex Promotions

1.

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2.

$140,000 Loss Rebate & $300 First Profitable Trade — $200,000 Pool

Join the promotion to receive up to $140,000 in loss rebates and $300 for your first profitable trade, with a total pool of $200,000.
3.

Phemex 6th Anniversary Event

Celebrate Phemex's 6th anniversary with special events and rewards.
4.

6th Anniversary USDT Savings

Participate in the 6th Anniversary USDT Savings event for exclusive benefits.
5.

Phemex 6th Anniversary: Wealth Springs

Join the Wealth Springs event as part of Phemex's 6th anniversary celebrations.